Marks & Spencer (M&S) is still grappling with the aftermath of a major cyberattack that forced it to suspend online shopping over a month ago, according to a report published by financial news website MarketScreener. The British retailer, known for its clothing and food lines, is prioritising security over speed as it works to restore systems.<\/p>\n\n\n\n
The cyberattack, revealed on April 22, has already caused significant disruption. Analysts estimate the retailer has lost over \u00a360 million in profit and seen more than \u00a31 billion wiped from its market value. M&S stopped taking clothing and home orders through its website and app just days after the breach and has since confirmed that some customer information was stolen.<\/p>\n\n\n\n
Sources say the ransomware attack is linked to a group known as Scattered Spider, which used stolen credentials from a third-party IT services provider. M&S has reportedly refused to pay the ransom, in line with government guidance.<\/p>\n\n\n\n
While food forecasting systems are now operational, online clothing orders remain unavailable, frustrating customers and raising concerns about long-term brand impact. Analysts warn that losses could deepen if services are not restored soon, with some estimating weekly losses of up to \u00a315 million. Retailers across the UK are now tightening cybersecurity in response.<\/p>\n","protected":false},"excerpt":{"rendered":"
Marks & Spencer (M&S) is still grappling with the aftermath of a major cyberattack that forced it to suspend online shopping over a month ago, according to a report published by financial news website MarketScreener. The British retailer, known for its clothing and food lines, is prioritising security over speed as it works to restore …<\/p>\n","protected":false},"author":40,"featured_media":126241,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"yes","rop_publish_now_accounts":{"facebook_108372464460192_245495985553329":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[31,2],"tags":[14471],"class_list":["post-126240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-uncategorised","tag-ms"],"yoast_head":"\n